NFT marketplace NFTically launched, gets seed funding from Matic CEO, others

NFT marketplace NFTically launched, gets seed funding from Matic CEO, others
Photo Credit: Thinkstock
21 Jul, 2021

NFTically, a global platform aimed at buying/selling non-fungible tokens (NFTs) or creating white-label stores for them, was launched with the backing of Matic Network CEO Jayanti Kanani and others. 

“We are truly grateful to Jayanti & others for trusting in our vision to strengthen the foundation of the NFT ecosystem globally. (These) funds will be utilized for strengthening the product & growing customers base in coming months,” Toshendra Sharma, founder and CEO of NFTically, said in a statement, without sharing the amount raised as part of the seed round or the names of other investors who had participated. 

According to the company, NFTically will work as a marketplace for NFTs and as a B2B SaaS platform to help content creators launch their own NFT store under their domain name, much like a Shopify for NFTs. 

“NFT market-related transactions are soaring to new heights every day and given our relationship with art, culture, and emotion, India can be the epicentre of the NFT uprising. Through NFTically, anyone can launch any number of NFT marketplaces and get the right value of their creation,” Sharma said. 

The platform offers features like custom UI, social tokens of influencers, and KYC while providing free minting of artworks in Ethereum, Polygon, Binance Smart-Chain. 

For sales occurring on its own platform, NFTically said it will charge a 2.5% fee. Meanwhile, those made on stores created by artists will have a 1.5% fee. Once an NFT is created and sold, it becomes a unique asset for the buyer and cannot be copied. The ownership of the asset is tracked using blockchain. 

The firm said it plans to onboard at least 1,000 multidisciplinary artists and content creators within the next three months. It is also working to provide NFT financing solutions to prospective buyers in the near future, the statement added. 

With 299% growth in 2020 and over $250 million worth transactions, NFTs are believed to be next logical step in the space of collecting and keeping prized digital items such as art pieces, audio/video, animated GIFs, in-game articles, and tweets. 

Back in March, Twitter founder and CEO Jack Dorsey sold his first tweet as an NFT for $2.9 million, while the popular Charlie Bit My Finger video has fetched $760,999 as an NFT.